Global Biologics Market Research Report: by Product (Monoclonal Antibody, Interleukins, Vaccines, Growth Factors, Gene Therapy, Others), by Disease Indication (Rheumatoid Arthritis, Psoriasis/Psoriatic Arthritis, Cancer, Diabetes, Others), by Manufacturing (In-house, Sourced), and Region – Forecast to 2023
Biologics Market – Overview
Market Research Future (MRFR) in its recently published study report asserts that the global biologics market will reach a valuation of USD 285,520.4 MN by 2023, registering a CAGR over 8.6% throughout the forecast period (2018-2023).
Owing to the burgeoning healthcare sector that is proliferating vigorously over the past decades, the biologics market is too growing rapidly. The rising regulatory convergence and better access to healthcare led by improving economic conditions worldwide are key driving forces behind the market growth. Moreover, the huge demand for biologics in the production of pharmaceuticals and vaccines is escalating the market on the global platform.
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Additional factors supporting the market to grow rapidly, include the growing incidences of chronic diseases and their diagnoses across the globe, increased availability of advanced diagnostic procedures, rising government initiatives in healthcare, and the growing technological advancements in research. Also factors such as the expansion of key producers and the investments they made in R&D for the incremental innovation and to sustain competition foster the market growth to an extent.
On the other hand, factors such as the challenges occurred during the manufacturing of biologics are expected to impede the market growth over the forecast period. Nevertheless, factors such as the increasing awareness for technologically advanced medical procedures and drugs and higher spending power are expected to support the market growth throughout the assessment period.
- Sanofi (France),
- Pfizer Inc. (U.S.),
- Amgen (U.S.),
- F. Hoffman-La Roche AG (Switzerland),
- AbbVie Inc. (U.S.),
- Bayer AG (Germany),
- AstraZeneca (U.K.),
- GlaxoSmithKline Plc (U.K.),
- Novartis AG (Switzerland),
- Eli Lilly and Company (U.S.),
are among some of the leading companies in the global biologics market.
Five players out of these are at the top with over 70% share of the total market, which are Roche, AbbVie, Amgen, GSK and Pfizer.
Introduction of Personalized Medicines Supports Market Growth
With drastic developments in gene and cell therapies, antibody drug conjugates and immunotherapies, the expected growth of biologics in the future is touted to be excellent. Trade pundits predict that biopharmaceuticals are poised to maintain their growth trend backed by innovative technologies and therapies. Personalized medicine and regenerative therapy are two areas that are developing at a speedy rate. Furthermore, personalized medicines that are based on immunotherapies, antibody drug conjugates and gene therapies are exhibited to be introduced in following years, which will offer lot of promise for regenerative medicine and focused disease remission. Key Players for Global Biologics Market
WuXi Biologics and NBE-Therapeutics (NBE) have entered into a partnership, and are in the process of developing and manufacturing NBE’s first ADC lead product known as NBE-002 (anti-ROR1). The product refers to an immune-stimulatory ADC (iADC) treatment that protects against ROR1 cancer target.
For enhanced understanding, the report has been segmented into four key dynamics.
By Product: Monoclonal Antibody, Interleukins, Vaccines, Growth Factors, and Gene Therapy among others.
By Disease Indication: Rheumatoid Arthritis, Psoriasis/Psoriatic Arthritis, Cancer, and Diabetes among others.
By Manufacturing: In-house and Out-sourced
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
The North American region, heading with its well-developed healthcare sector accounts for the leading position in the global biologics market followed by the European and Asia Pacific region, respectively. Simultaneously, factors such as the high-volume production of pharmaceuticals and the huge demand for biologics led by the high healthcare expenditure.
Undoubtedly, the availability and the wide uptake of new technologies to develop advanced production methods is positively impacting market growth. The US, backed by the huge technological advancements in the field of manufacturing biologics leads the regional market.
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The European region owns the next largest share in the global biologics market, following the North American market closely. Factors propelling the growth of the regional market include the resurging economy that is availing the best possible healthcare & substantially high healthcare expenditures and the government support that encourages manufacturers of biologics to develop new and effective biologics.
The Asia Pacific region is emerging as a profitable market for biologics due to the rapidly improving healthcare infrastructure. Moreover, factors such as the ever-increasing population that is continually dictating the demand for quality healthcare and the spreading awareness towards the availability and benefits of biologics are positively impacting the growth in the regional market.
Rapidly developing economies are expected to provide immense opportunities for the growth of biologics. Also, the increasing adoption of technologies is positively impacting market growth in the region. Furthermore, rising healthcare concerns along with the fast-proliferating healthcare sector, increase the market size of the biologics market in the APAC.
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